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HCM

HGI Capital Management Portfolio holdings

AUM $36.4M
1-Year Est. Return 4.49%
This Fund
S&P 500
This Quarter Est. Return
+5.68%
1 Year Est. Return
-4.49%
3 Year Est. Return
+47.03%
5 Year Est. Return
+59.56%
10 Year Est. Return
+131.02%
AUM
$36.4M
AUM Growth
-$37.4M
Cap. Flow
-$39.5M
Cap. Flow %
-108.65%
Top 10 Hldgs %
55.71%
Holding
29
New
6
Increased
1
Reduced
13
Closed
8

Top Buys

1
HD icon
Home Depot
HD
+$1.94M
2
ARE icon
Alexandria Real Estate Equities
ARE
+$1.82M
3
PECO icon
Phillips Edison & Co
PECO
+$1.64M
4
OHI icon
Omega Healthcare
OHI
+$1.48M
5
BNL icon
Broadstone Net Lease
BNL
+$1.18M

Top Sells

1
ESRT icon
Empire State Realty Trust
ESRT
+$4M
2
INVH icon
Invitation Homes
INVH
+$3.61M
3
NMRK icon
Newmark Group
NMRK
+$3.6M
4
CPT icon
Camden Property Trust
CPT
+$3.56M
5
KRG icon
Kite Realty
KRG
+$3.41M

Sector Composition

1 Real Estate 94.5%
2 Consumer Discretionary 5.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EQIX icon
1
Equinix
EQIX
$99.5B
$2.39M 6.57%
3,053
+291
+11% +$227K
CBRE icon
2
CBRE Group
CBRE
$42.1B
$2.31M 6.33%
14,632
-12,122
-45% -$1.88M
FR icon
3
First Industrial Realty Trust
FR
$9.1B
$2.03M 5.57%
39,373
-27,462
-41% -$1.38M
DLR icon
4
Digital Realty Trust
DLR
$64.2B
$2.02M 5.54%
11,661
-12,518
-52% -$2.14M
HD icon
5
Home Depot
HD
$347B
$2M 5.5%
+4,944
New +$1.94M
EXR icon
6
Extra Space Storage
EXR
$31.8B
$1.99M 5.46%
14,110
-12,867
-48% -$1.85M
PSA icon
7
Public Storage
PSA
$57B
$1.92M 5.28%
6,654
-6,903
-51% -$1.98M
ARE icon
8
Alexandria Real Estate Equities
ARE
$8.74B
$1.9M 5.21%
+22,773
New +$1.82M
PLD icon
9
Prologis
PLD
$140B
$1.87M 5.14%
16,330
-5,623
-26% -$618K
ESS icon
10
Essex Property Trust
ESS
$19.1B
$1.85M 5.1%
6,930
-6,277
-48% -$1.7M
VTR icon
11
Ventas
VTR
$46.2B
$1.76M 4.83%
25,138
-24,127
-49% -$1.62M
UDR icon
12
UDR
UDR
$13.2B
$1.7M 4.66%
45,536
-61,819
-58% -$2.41M
EQR icon
13
Equity Residential
EQR
$26.2B
$1.63M 4.47%
25,128
-34,126
-58% -$2.23M
PECO icon
14
Phillips Edison & Co
PECO
$5.51B
$1.62M 4.46%
+47,268
New +$1.64M
VRE
15
DELISTED
Veris Residential
VRE
$1.6M 4.41%
105,494
– –
OHI icon
16
Omega Healthcare
OHI
$14.9B
$1.55M 4.26%
+36,722
New +$1.48M
VICI icon
17
VICI Properties
VICI
$29.9B
$1.53M 4.21%
46,931
-35,381
-43% -$1.17M
HST icon
18
Host Hotels & Resorts
HST
$16.2B
$1.35M 3.72%
79,502
-145,075
-65% -$2.41M
NMRK icon
19
Newmark Group
NMRK
$2.82B
$1.32M 3.62%
70,688
-222,069
-76% -$3.6M
BNL icon
20
Broadstone Net Lease
BNL
$4.37B
$1.23M 3.37%
+68,558
New +$1.18M
BRX icon
21
Brixmor Property Group
BRX
$9.94B
$832K 2.29%
+30,050
New +$804K
ADC icon
22
Agree Realty
ADC
$9.7B
– –
-26,176
Closed -$1.91M
CPT icon
23
Camden Property Trust
CPT
$11.4B
– –
-31,590
Closed -$3.56M
ELS icon
24
Equity Lifestyle Properties
ELS
$12.8B
– –
-47,474
Closed -$2.93M
ESRT icon
25
Empire State Realty Trust
ESRT
$991M
– –
-494,696
Closed -$4M
1
2

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HGI Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, HGI Capital Management held 29 positions worth $36.4M, down 51% from $73.8M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

HGI Capital Management withdrew a net $39.5M in Q3 2025, closing 8 positions and reducing 13 holdings. Its most notable exit was Empire State Realty Trust, an estimated $4M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 94% of assets, down from 100% a quarter earlier, followed by Consumer Discretionary.

Against the trend, HGI Capital Management opened a new position in Home Depot worth $2M.

  • HGI Capital Management's largest Q3 2025 buy was Home Depot: 4,944 shares worth $2M.
  • HGI Capital Management added most to Equinix in Q3 2025, an estimated $227K increase.
  • HGI Capital Management's biggest Q3 2025 reduction was Newmark Group, cutting an estimated $3.6M.
  • HGI Capital Management fully exited Empire State Realty Trust in Q3 2025, selling an estimated $4M.
  • HGI Capital Management's ten largest holdings make up 56% of its $36.4M portfolio in Q3 2025.
  • HGI Capital Management opened 6 new positions and closed 8 in Q3 2025.
  • HGI Capital Management's portfolio value fell 51% quarter-over-quarter to $36.4M.

Based on HGI Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.